Up and coming Neighborhoods - The Path of Progress

Asked by Joshua, Denver, CO Mon Mar 18, 2013

Hi all, I'm wondering what everyone thinks are the next nieghborhoods to go through gentrification/period of progress/price increases. I'm looking for a fixer upper four unit multifamily in an up and coming neighborhood in DC while I'm at grad school in the fall. Help me out!

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Troy Patterson’s answer
Troy Patters…, Agent, Alexandria, VA
Mon Mar 18, 2013
I always recommend that investors follow the development across the City. The easy thing is to follow the Metro but also note which ones have projects going around them. Development of course is moving further East. Right now I'd look at Brentwood, Brightwood and Woodridge as the next immediate areas. Of course you can't ignore the development in the Anacostia/Congress Heights area. Then there are less obvious areas where development is driven by rising income. These are the Ft. Dupont/Hillcrest areas where the housing stock is very attractive and quieter than one would expect. For a safe investment with moderate returns, look at Brentwood, Chillum, Riggs Park and Ivy City.
2 votes
brent mendel…, Mortgage Broker Or Lender, Bethesda, MD
Mon Mar 18, 2013
Joshua,

After you get some ideas of where you would like to buy, give me a call and if I can help with the financing I will. What you want is not a vanilla loan. If I am not the best person for that loan I'll help you find somone who can. And when you are ready for that Realtor I highly recommend Troy Patterson who happened to answer your question also. He's excellent for knowing the up and coming spots in DC. Let me know any questions.

Thanks,
Brent Mendelson
1st Mariner Mortgage
nmls #111407
1 vote
Lanre Folayan, Agent, Washington, DC
Sun Dec 22, 2013
One neighborhood that I strongly feel will be a great place would be #CongressHeightsDC. And if you are looking for a DC Real Estate Agent,Google "Buy a home in Washington DC" to see what it brings up in the search engine. Much luck to you.
0 votes
Ericka S. Bl…, Agent, Washington, DC
Fri Mar 22, 2013
Hey Joshua,

Buying a fixer upper multifamily while in graduate school is an excellent idea. While in school, I purchased an investment property too. Here are three options to consider. (http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=304…).

Let's go check them out this weekend. My number is (202) 670-6677.

Talk to you soon,
Ericka
0 votes
Katrina Hill, Agent, WA,
Thu Mar 21, 2013
Deanwood Deanwood Deanwood! ... among a number of other neighborhoods in NE (SE too). There's so much good stuff out there. I live in the 20002 zip code and I'm also an investor. Feel free to give me a call and i'd be happy to show you some really smart multi-units.

Let's talk soon.
____________________
Katrina Hill

REALTOR®
Washington, DC

Efficient | Smart | Honest
Real Estate

Central Properties, LLC
1353 V Street, NW
Washington, DC 20009
Cell/Text: 202.409.8334
Katrina.a.Hill@gmail.com
KHill@CentralPropertiesDC.com
http://www.CentralPropertiesDC.com

Katmar Capital Development
Washington, DC
http://www.KCD-llc.com

K. Ann Decor & Design Homes
Home Staging
http://www.KAnnDecor.com
0 votes
Ellen Passman, Agent, Washington, DC
Mon Mar 18, 2013
Anacostia & Hillcrest in NE & SE have some gentrification going on, but there is lot to do in those neighborhoods.
0 votes
Joshua, Home Buyer, Denver, CO
Mon Mar 18, 2013
Ideally, I'd like to do an FHA loan. I'll be going to Georgetown, but proximity does not really matter, as long as it is near the metro. In addition, I'd like to fix it up, for which I can put the construction costs into the loan. My goal is to ride any wave of natural appreciation and increase the value of the property via increased NOI and renovations. I move in June/July and will be looking then. Am looking to look at many properties and find the right one.
0 votes
Joshua,

The areas I previously mentioned are still good based on your latest response given metro accessibility. It would be great to meet with you, talk more, and help you get going. Email or call any time.
Flag Mon Mar 18, 2013
You have the benefit of rising rents in the area but that wave may not be as long as we'd like since we have a lot of new luxury rentals coming on the market. So you MAY need to lower your expectations (don't know until we actually speak). As you see you have any number of people willing to assist you in locating the right property. Right now you'll probably want to do a passive search but you should monitor Craigslist for rents of any area you're considering. These days that tends to be the best up to the minute gauge on prevailing rents. I'm here to assist you should you have any further questions.
Flag Mon Mar 18, 2013
Miekeba Jones, Agent, Silver Spring, MD
Mon Mar 18, 2013
Hi Joshua. I can help you. contact me miekeba@heymannrealty.com
0 votes
Jason Skipwo…, Agent, Washington, DC
Mon Mar 18, 2013
Joshua,
I suggest Brookland, Anacostia, & Brightwood.
Happy to help any way I can.
0 votes
Maureen Dwyer, Agent, Ashburn, VA
Mon Mar 18, 2013
Hi Joshua, You've left some important facts out of your question such as your investment ability, construction ability just to start on they list. There's still some juice left in some transitioning areas or do you want to ground-breaking? I'm well familar with the DC area - all it's quadrants - so would appreciate a conversation.. Please call.
0 votes
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